- About Coverfox
Exide Life Insurance Company is one of the most reputed insurance companies in India. Having more than 15 lakh customers across the country, Exide Life Insurance’s customer base is consistently growing.
Awarded as “India Leadership Award” for Marketing and Social media initiative
For every stage of a customer’s life, the company provides solutions that will help him/her to live a great life till the Golden years along with building the solid financial foundation for the customer’s family. The company steps beyond life insurance and provides need based life insurance solutions.
Social Media Presence: Twitter Self Service has been created for the customers with the Tweet tag as @ExideLifeCares to utilise the predefined services for their life insurance policies. One can Tweet with “Hi” or “Hello”@ExideLifeCares with their “DOB” and “Exide Life Insurance Policy Number” and the customer can interact with the automated service.
Online Services: The various automated services offered currently are online renewal premium payment, download payment receipt, instantly update the contact details, to check policy status on the go, policy due date reminder, querying for policy premium and survival benefits.
Easy Claim Settlement: Claim has to be intimated as soon as it occurs. Claim form can be downloaded from the Exide Life insurance website or the customer can walk into the nearest branch office to obtain a claim form. Fill in all the details and submit the claim form to the branch office or he/she can mail them to the headoffice for easy processing of your claim.
Online Payment: Moving from traditional policy processing to digital platforms, the Premium Payments can be done online for the ease of the customer. The customer can renew his/her policy through paying premium online using credit or debit cards, net banking and also through e- wallets in an easy way.
Mobile App: With the help of the company’s Mobile Application, all the required transactions that need to be carried out by the customer can be performed through this app. Starting from exploring the different plans available in the company, ranging till paying the premium online as well as tracking the fund status are .
A one of a kind Term plan which returns the premiums paid by the policyholder at the end of the policy tenure.
Riders Available Exclusively for Exide Life Smart Term Plan
Exide Life Accidental Death, Disability and Dismemberment Rider: Protect the customer in case of accidental disability and dismemberment.
Exide Life Critical Illness Rider: Protects the customer from 25 critical illnesses like Cancer, Heart attack, Paralysis etc. Out of the 25 critical illnesses listed in this rider, the customer can choose the options of his choice for this rider.
Other Available Riders for Traditional Life Insurance Plans
Exide Life Term Rider
This Rider is an add on product which can be attached to Exide Life Insurance Traditional plans with an enhanced life coverage at an affordable additional premium. Existing Policy holder can opt this cover at the time of renewal and new customers can purchase it as a traditional policy when he or she wants to enhance their life protection.
A policyholder will not be capable to file a claim in the following circumstances:
In the event of a claim, it has to be registered as soon as the loss occurs. For claim intimation a customer can walk into the nearest Exide Life Insurance branch for processing the claim or he can register it online by downloading the claim form. Another easy way is that he can write a mail to email@example.com.
Once the customer has filled the claim form completely and attach all required documents, he/she can submit the documents to their nearest branch office or mail them to Customer Services, 1st Floor, Exide Life Insurance Company Limited, JP Techno Park No 3/1, Millers Road, Bangalore – 560 001.
After the registration, an acknowledgement letter will be given to the customer. From there on, the customer can use his/her policy number for any queries and interaction with Exide Life until the claim is settled.
Exide Life Insurance has been selected as one of the Top 10 Most trusted company by Economic Times – Brand Equity at 2014-2015. Exide Life Insurance has a claim settlement ratio of 89.36% for the financial year 2015-2016.
Grievance Resolved ratio for 2015-2016 is 99.59. 5 out of 4 happy customers are appreciating the flexibility they enjoy through tracking their fund value through Exide Life Insurance Website. Almost all the customers are highlighting the flexibility provided by Exide Life in terms of coverage and also on the various premium payment frequency options.
The only life insurance company in India with a strong business coverage across India packaged with 35000 + Insurance advisors, Regional Cooperative Banks, Corporate Agents, Brokers and Referral Partners
Can I change the nominee in the middle of my insurance policy tenure?
Yes. You can change or add nominee in middle of your insurance policy by completing the Nominee addition/change form. Fill in the required details and submit it to your nearest branch office. Nomination can be cancelled or changed at any time before your policy mature.
What is a critical illness rider in Exide Life?
Exide Life Critical Illness Rider is one of the add on benefit that customers can add to their new policy or existing traditional policy. It protects the policy holder when he gets diagnosed with major illnesses like Heart attack, Paralysis, Coma, Kidney failure etc. This rider helps the family from the burden of high medical expenses. There are two options available under this rider namely Option A and Option B. The policy holder can select either option A or option B. Option A will cover any four illnesses whereas option B includes 25 critical illnesses. For more information the product brochure can be downloaded from Exide Life Insurance website.
What is the procedure for getting a duplicate policy?
If the life insured loses/misplaces/destroy the original policy bond, then there is no tedious lengthy process to get the duplicate policy. The customer can immediately contact the company and the company will issue duplicate policy copy by charging Rs.250/-.
Is there any penalty for me if I do not pay the premium for one year?
If it is a regular premium payment policy, the customer has to clear all the arrears within the grace period. The customer’s policy will get automatically lapsed if he/she has not made the premiums on grace period.
Even after the policy got lapsed, the customer can revive his/her policy by clearing all the arrears along with the interest rate for that particular one year time period. However it is company discretion to decide whether to revive the customer’s lapsed policy or not.
What is the maximum sum assured in Exide Life and what are the documents needed if am taking a policy for more than a crore?
Sum assured range starts with minimum Rs. 25 Lakh to Maximum of Rs. 25 crore.
What are the children’s plan products available in Exide Life?
In Exide Life Insurance there are three plans available for children.